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Moving on to cash flows, we see that net cash provided by operating activities totaled 39.3 billion yen for an increase of 59.1 billion yen year on year. This uptick is due to steady production and sales during this quarter unlike the same period last year when we experienced a decrease in working capital as a result of stagnant production following on the heels of the March 11 earthquake.
Net cash used in investment activities dropped 44.8 billion yen year on year to a negative 17.2 billion yen due to a gain on the sale of the Subaru Building posted last year.
Free cash flows increased by 14.3 billion yen to reach 22.1 billion yen.
Net cash provided by financing activities dropped 86.7 billion yen year on year to reach minus 24.3 billion yen as a result of a decline in interest bearing debts due to the redemption of corporate bonds this year while loans were increased for post-earthquake operations last year.
Cash and cash equivalents decreased 22.5 billion yen to total 274.5 billion yen despite an increase of 21.3 billion yen as a result of the consolidation of overseas subsidiaries. |
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